Are Aussie mineral resource directors complying with stock trade timing law?
An investigation by the Sydney Morning Herald has determined that directors of seven Australian resource companies bought or sold shares in the five weeks before six-month or full-year financial results announcements. Dorothy Kosich 04 December 2006 RENO, NV (Mineweb.com) –An investigation by the Sydney Morning Herald has determined that directors of seven Australian resource companies bought or sold shares in the five weeks before six-month or full-year financial results announcements. The companies include Fortescue Metals, Lihir Gold, Oxiana Resources, Jubilee Mines, Kagara Zinc, Perilya and Sino Gold. In some cases, such as zinc miner Perilya and Sino Gold, more than one director traded shares within the window, according to the Sydney Morning Herald report. The newspaper investigated more than 4,000 trades by company directors over the last two years. It reportedly represented one-third of the 21 top 200 companies in which such traders were identified, although resource companies
